Kathleen Schelleng

Kathleen Schelleng

Kathleen Schelleng

FAQ Buying a Home

Frequently Asked Questions from Home Buyers

Do I have to pay a buyer agent to represent me in buying a home?

Most typically, NO! When a seller hires an agent to sell their home they agree to pay that agent a commission to do so. That agent in turn offers out half of that commission to any agent who can bring a buyer. So while you are represented by your buyer agent, the seller's agent's commission is paying for the service. Also known as "co-broke".

Do I have to have a home inspection?

You don't HAVE to but it is highly recommended. A home inspector is licensed as a "general" inspector and will look at many aspects of the home. They will run the furnace, test the A/C, run the appliances, inspect the attic, the basement, give an opinion on the general condition, do a radon or water test and make recommendations for maintenance. A home inspector will not give estimates on repair or improvement. Learn more about Home Inspections here: Consumer Facts on Home Inspectors MA

What is Title V?

Title V refers to the law in Massachusetts that regulates septic systems. In most cases, the seller of a home will have a Title V inspection done at their expense and provide a passing Title V certificate required prior to conveyance of a home. If the septic does not pass Title V, most of the time the seller will be responsible for the repair of the system. If you are a seller, see FAQ for Sellers regarding more on this topic! And check out this link: MA Title V For Consumers

Who pays closing costs?

It is the buyer no matter how you slice it. It is sort of an issue of semantics. A buyer can write an offer with this contingency, for example: "Subject to seller contribution of up to $5000 toward buyer pre-paids, insurance and closing costs". Let's say the home was on the market for $350,000 and in a bidding war, the buyer offers $355,000. The offer is for practical purposes $350,000: $355,000-$5000 closing costs= $350,000 gross to seller. The 5k comes off the seller's "top" but they are getting asking price. The buyer is basically rolling those 5k closing costs into the mortgage.